Product innovation continuity in times of crisis

Continuing with new product development efforts is critical, even, or especially in times of disruption. Your initial response might be to hide out but stopping innovation altogether might put your company at risk of being way behind the competition when things return to “normal”.

NPD continuity might mean you need to realign your portfolio or reprioritize your investments. It might also mean having to shift emphasis from planning for horizon 3 to horizon 1 and 2, but it is important to carry on!

If you are going to cut projects or costs, you need a holistic view of what is strategically important to the company.

You need to keep on going so you are ready when the market rebounds. It means digitalizing your innovation management processes so cross-functional teams can collaborate even when they are remote. It means being able to have gate meetings fully online and allowing members of your ecosystem to be active participants in your process to increase alignment, speed, and communication.

This webinar was part of the Innov8rs Connect BCN online conference on April 22, 2020.